Saudi arts hub CEO arrested for money laundering

RIYADH, Jan 29 (AFP): The head of a tourism and heritage project meant to help establish Saudi Arabia as a global arts hub has been arrested on suspicion of money laundering, authorities announced late Sunday.

Amr bin Saleh Abdulrahman AlMadani, chief executive of the Royal Commission for AlUla in the northwestern Medina region, "was arrested for his involvement in crimes of abuse of authority and money laundering", the official anti-corruption authority said in a statement.

Both before and after he assumed his position, AlMadani was allegedly involved in illegally obtaining contracts for a separate company in which he has an ownership stake, the statement said, putting the value of the contracts at around 207 million Saudi riyals ($55 million).

"Legal procedures are currently being taken against the detainees for prosecution in a court of law, in line with the laws and regulations," the statement said.

The website for the Royal Commission of AlUla on Monday did not refer to AlMadani and instead listed Abeer AlAkel as acting CEO.